- Ambertech (AMO) acquires audio visual distribution business Connected Media Australia for $1.1 million
- The purchase will see Ambertech bring leading brands to its portfolio and offer an expanded solution for its customers
- This follows the recent acquisition of musical instrument distributor, Noise Toys Imports, which aligns with AMO’s goal of growing its presence in the Australia and New Zealand musical instruments market
- Company shares are up 2.56 per cent to trade at 40 cents
Ambertech (AMO) has announced two key acquisitions which support its growth strategy.
The first is the acquisition of audio visual distribution business Connected Media Australia (CMA). The company believes this purchase will bring several benefits to dealers and suppliers, resulting from Ambertech’s market presence and resources.
“We are very pleased to be able to add leading brands such as RTI and Bluesound Professional to our portfolio,” Managing Director Peter Amos said.
“These brands allow Ambertech to offer an expanded solution for both residential and commercial AV installers.”
The company will acquire CMA for $1.1 million which is being funded from existing cash reserves. The acquisition is expected to be completed in about two weeks.
In early September, Ambertech acquired musical instrument distributor, Noise Toys Imports, for $560,000.
The acquisition allows renowned guitar pedals brand, Strymon, to join the company’s musical instrument portfolio, as well as Hotone guitar pedals, Richter guitar straps and Walla Walla guitars, plus the other brands from the Noise Toys Imports line up.
“We are focused on building and growing our presence in the musical instruments markets in Australia and New Zealand, and this is a great opportunity for us to build on the existing relationships we have,” Mr Amos said.
“The NTI brands are a perfect complement to the musical instrument brands we currently represent.”
Neither acquisition is material in their own right, but they’re both considered to be important steps in Ambertech furthering its growth strategy.
Company shares were up 2.56 per cent to trade at 40 cents at 3:33 pm AEDT.